IFRS 8 In Saudi Listed Companies
The Ethics are said to be the principles of behavior that differentiate what is right and wrong. These are the principles help to distinguish among the behavior that satisfactory and or non-acceptable for the people. These are functional to persons and one who go for technical investigation and many of the behavior that are scholarly. In the investigation of the ethical deliberation are dangerous. There are a lot of subject connected with many of the research like the privacy, mystery and solitude issues the safety of the data, preservation of information the participation of vulnerable , the knowledgeable permission of the Rowley recommended the ethics of study are concerning with regard to privacy , and being see-through about employ of information in this matter.
The overall Respect and trust are said to be 2 factors above all significant in the research. In case the researcher expand them with the contributor it also likely to make stronger his trustworthiness as a investigator. All of the research must go behind ethical carry out. It is also very required not to defend the space to yourself and discretion of contributor but it is essential to defend human rights and wellbeing of member to ensure accurateness of the knowledge in order to defend property in case there is no privacy in the study, it is also likely to have unenthusiastic influence on investigator trustworthiness but have an effect on the standing of members.
The recommended that expert and accountable work should obtainable through the conduct a study, that is likely to involve an opposite mean of information compilation, knowledgeable consent and cautious interpretation, well-versed approval is investigate participant’s accurate,. They also affirm many criteria for knowledgeable approval. The main objective is to lend a hand to people to come to a decision whether they desire to be participant of study and the research.
In the present research of the effect of training and development on the performance of employees in the bank of Pakistan the hypothesis are as listed below:
- There is a link between IFRS 8 operating segments and financial system of the companies in the Saudi Arabia.
- There is no link between IFRS 8 operating segments and financial system of the companies in the Saudi Arabia.
- The IFRS 8 operating segments have an effect on the financial turnover in the company of the Saudi Arabia.
- The IFRS 8 operating segments have no effect on the financial turnover in the company of the Saudi Arabia.
- There is a correlation in profitability of organization and IFRS 8 operating segments for and the financial system of the company.
- There is no correlation in profitability of organization and IFRS 8 operating segments for and the financial system of the company.
The research of the paper is likely to contain all of the required description and many of the procedure related to the topic of the report. In this research study we have used many of the statistical techniques in order to collect the data regarding the IFRS 8 in the Saudi companies and then analysis the impact of the IFRS in the companies. In this research we have also stated the complete criteria of the population, sample and the data that we are likely to collect from the individual. So this methodology is also likely to provide the information regarding all of the limitation of the study and the research. It is obvious that there are some of the limitations in the study that would also be discus in the methodology research.
There are also some of the problems in the research that are likely to occur during the interpretation of the data and the information in the research. For the research method of the IFRS we are likely to use the method of the semi structure interviews from the sample that we have selected for the research. For this research methodology we are using both of the qualitative and the quantitative research method and from the mixture of both of the researches we are likely to use the indicate and manipulate the results of the about the research topic.
Therefore, we can say that to analysis the research topic, study adopted the approach that focuses on qualitative research method. This type of study included a semi structured interview of respondents. The qualitative method of research is elastic as it helps to be acquainted with the left over piece of moderately known and unknown. The Qualitative methods of research are also much important in perspective of improvement and to conduct the more advanced research. Though if the problem to be studied is not defined well enough then there are chances of risk for the researcher that he may be confounded by the excessive collection of data and a huge number of data will become complex for analysis. This study is mainly focused on identifying the effect the adoption of the IFRS 8 in the companies of the Saudi Arabia.
As we are likely to use the primary research method in the methodology of the research so we have to select a sample of the research for the interviews of the individuals in this matter. The interview that we are likely to conduct are consist of some of the questions that we likely to ask to the top executive and some of the employees of the Saudi Arabia companies. So that we are likely to know about the opinion and the point of view of the employees and the managers regarding the role of the IFRS 8 in the companies.
Frame Of The Population
There are many of the companies in the Saudi Arabia that are likely to use the IFRS 8 in the companies. So for the interviews we have to select the sample of the candidates from the population of the companies. The candidates who are likely to give the interview can be the employees or the top manages in the organization.
Selection Of The Sample
The assortment of sample was made depend on the formula for finding the sample. The size of the sample get hold of was approximately about 75 workers and the 25 executives from all of the companies. The sample sizes of 75 employees related to the department of the finance were chosen and were conducted the interviews from the employees on voluntary basis. For conducted the interviews with the top executives of the companies we have to take the appointment through the mails in official way so that they are likely to manage their time according to the requirements of the interview because the interviews that are likely to conduct with the from the managers would take 25 minutes. For the research, there were 25 females and 50 males that gave their opinions about the interviews and the adoption of the IFRS 8 in the companies of the Saudi Arabia.
For the current research, the interviews were conducted as instrument to get the results. With the help of previous researches questions the question regarding independent variable that is use of the IFRS is the variable that is impact on the companies was selected. All of the Questions of the interviews are designed and they are consisting of 10 questions from the employees and the 25 questions from the top executives.
The interview was conducted among the company 75 employees working in different companies of the Saudi Arabia. Employees were asked the question randomly on the voluntary basis. The companies of the Saudi Arabia have has males as well as females’ employees. As the selection of sample was on voluntary basis so the there were 25 females and the 50 males who willingly gave their responses to questions of the interviews. There are different ways that organization can use to implement IFRS 8 operating segments in the company in order to improve their overall and performance of the organization. IFRS 8 operating segments is also likely to help to increase the level of efficient and reduce the financial turnover in organization.
Dependent Variables The Companies Finance
The finance of the companies of the Saudi Arabia is likely to depend on specific criteria and prearranged standard of correctness, accomplishment, and cost can be titled as financial techniques and methods. There are different measuring scales in organizations such as efficiency of finance, quality measuring, proceedings and other scales like measurement of revenue of the companies.
The success of an organization mostly depends on the financial system of that organization. This shows that the financial processing in the companies is said to be an important feature that be helpful or if it is not impactful than it is said to be non-beneficial for an organization. There are various tools that an organization can use to increase the financial performance level of its company. The current study includes the FRIS 8 is the tool that can recover the overall performance level of workers.
IFRS 8 is said to be the independent variable in the research because it is not depends on the company y that is using it but the company is depend on the IFRS 8 for its financial matters. It is also said to be a systematic, designed and planned activity that results in the attainment of knowledge, increase in financial performance in the company that help the employees in doing their finance in an effective way. The Organization and financial process in the company both get advantages from the IFRS 8 as it influences the financial performance of company in a positive way through the enhancement of their knowledge, capabilities, skills, and competencies. For the effectiveness of development and IFRS 8 implementation is provided by the organization.
IFRS 8 plays important role in the organization; it increases the performance level, skills of finance, knowledge and also helps so increase the financial performance of the employees. Trained employees always play important role in completing the overall task and overall goals of the company. IFRS 8 not only improve performance but it helps to increase maintenance and better analysis of all of the financial matters in the organization.
Collecting The Data
The questions regarding the dependent variable that is financial performance was selected. There are various researches on financial performance so the only suitable questioned for current research were selected. Total 12 questions regarding dependent variable that is financial performance were selected. The question regarding the independent variable that is IFRS 8 was selected. There are various researches on IFRS 8 impact on the organization so the only suitable questioned for current research were selected. Total of the 12 questions regarding independent variable that is IFRS 8 were selected for the research.
Analysis Of The Questions
The question regarding financial performance of the company were “I think that it is very good opportunities to adopt the IFRS 8 in the company to improve the overall performance” , “If I have improved financial processing after adopting the IFRS 8 in the company?”and “The IFRS 8 is also likely to motivate employers to work efficiently”. Responses from 75 employees in the company regarding financial performance questions were obtained on through the interview. In some of the questionable of the interview there are also some of the option given to the employees and they have to choose on option out of them as there answer of the question. The Option A was for strongly agree and option C was for neutral. Option E was for strongly disagrees. the more of the appropriate results and allow individual to show how much they agree and disagree to the question being asked.
The question regarding IFRS 8 were “your company is likely to use the IFRS 8 and how do you think that this system is likely to help your company in the finance” , “If a formal appraisal mechanism is required in IFRS 8 “ and “All the employer in each job will be able to go annually in financial assessment effectively”.
Responses from 50 regarding employee financial questions were obtained. the Option A was for strongly agree and option C was for neutral. Option E was for strongly disagrees. With the help of five liker scales, the more appropriate results and allow individual to show how much they agree and disagree to the question being asked. Detailed information and questions are mentioned at the end of dissertation in appendix section.
Mixed Method (Quantitative And Qualitative)
There are many of the research methods can be used the case of the search of the IFRS 8 in the Saudi Arabia companies. In this paper we are likely to use the primary as well as the secondary research for analyzing the use of the IFRS 8 in the Saudi companies and what are the changes that the companies are likely to go through by the adoption of the IFRS 8. So we can say that to analysis the research topic, study adopted the approach that focuses on qualitative research method. This type of study included a semi-structured interview of respondents. The qualitative method of research is elastic as it helps to be acquainted with the left over piece of moderately known and unknown.
The Qualitative methods of research are also much important in perspective of improvement and to conduct the more advanced research. Though if the problem to be studied is not defined well enough then there are chances of risk for the researcher that he may be confounded by the excessive collection of data and a huge number of data will become complex for analysis. This study is mainly focused on identifying the effect the adoption of the IFRS 8 in the companies of the Saudi Arabia.
According to the research Nichols & at.al, (2013) it is viwed that , application of the IFSR 8 effect the number of the reported operating segments and items of dislosure, as well as settlements plus reporting gaps in segments. Advantages with disadvantages of the management advance along with discover whether the apprehension of opponent of accepting the management approach in IFRS 8 has been recognized. Aforementioned to concerning IFRS 8, the IASB conversed subdivision coverage through economic statement users (Nichols & at.al, 2013).
On the other hand, the preamble of IFRS 8 was not without disagreement. Additionally, the Saudi Arabia approval of IFRS 8 was subject to deliberate as some component, together with members of the Saudi Arabia Parliament, observation IFRS 8 as assuming the foreign standard (Nichols & at.al, 2013).
The effect of embracing the administration approach for portion detailing. We give foundation to the reception of the IFRS 8 administration approach as well as detail worries that have been raised by controllers and monetary data clients about use of the administration approach. Synopsis of the current writing on these imperative issues along with draws mutually the examination in light of organizations utilizing IFRS 8. IFRS 8, issued in 2006, additionally received the unadulterated administration approach. Reportable working fragments under IFRS 8 are constructing only in light of the administration approach with the dangers and prizes capability disposed of (Nichols & at.al, 2013).
According to research Alsuhaibani, (2012) it is conducted that (IFRS) International Financial Reporting Standards is picking up significance for a long time. In view of the fact that Saudi Arabia has connected the Group of Twenty Finance Ministers plus Central Bank Governors (G-20) three years prior. Effects of the IFRS on Saudi organizations with a specific accentuation on the media transmission business. Initially, the Status of IFRS acceptance in Saudi Arabia is appearing. At that point the principle results of the writing review identified with the IFRS appropriation with a specific accentuation on the media transmission segment are introduced. Not very many investigations are accessible with respect to the IFRS selection in Saudi Arabia or even the GCC nations (Alsuhaibani, 2012).
They have demonstrated that Saudi Arabia is the main part in the Gulf Cooperation Council (GCC) that does not want IFRS for every recorded organization. In this manner, numerous analysts are requiring the Saudi specialists to extend the level of selection of IFRS to incorporate all organizations that are recorded in the Saudi Stock Exchange. Firms with significant contrasts between nearby bookkeeping models and IFRS advantage progressively when bolstered by a solid administrative condition. Looking at obligatory and willful adopters, they found that the capital market impacts are most articulated for firms that intentionally change to IFRS, likely because of self-choice (Alsuhaibani, 2012).
According to given study Deloitte, (2016) it is view that The Kingdom of Saudi Arabia (KSA) is rapidly set to connect 130+ nations over the globe in the use of (IFRS). Saudi Arabian financial Authority is as of now obligatory to conform to IFRS. Saudi Arabia has perceived the need to take part in the open doors accessible by globalization and thus, SOCPA endorsed an IFRS meeting Plan, called the “SOCPA Project for Transition to International Accounting and Auditing Standards (Deloitte, 2016).
Expanded outside direct venture along with upgraded quality detailing, straight forwardness and likeness are a portion of the key advantages that the nation will appreciate from IFRS reception. The view that reception of IFRS enhances nature of money related data is basic to its appropriation. In the event that organizations don’t see the utilization of IFRS as gainful to their business, at that point they are probably going to confront more prominent difficulties in consenting. As nations have throughout the years progressed to IFRS, a typical repeat noted is that private ventures. IFRS detailing is essentially more burdensome than Saudi GAAP, in that its submission will require extra divulgences that will add to better advising the clients (Deloitte, 2016).
Another basic component fundamental the fruitful usage of IFRS will be the help given to key partners, including controllers, with preparing and committed expected assets to decipher as well as apply the prerequisites of IFRS. It is basic that the different partners are indispensably included, in light of the fact that a smooth progress to IFRS can’t be talented without their help. Including divulgences or expelling an alternative from a standard would not ordinarily keep an element following the benchmarks from affirm consistence with IFRS. Be that as it may, correcting the necessities would for the most part keep a substance following the benchmarks from affirming consistence with IFRS if the change has a material impact (Deloitte, 2016).
As the current research includes the hypothesis that are Null hypothesis and alternative, hypothesis so to test the hypothesis testing test was performed using software to find the significance level and the P-value , If the P-value obtained is less than the significance level the null hypothesis will be rejected and the alternative will be selected.
Reliability And Validity Of Research
The Reliability can be explained as the repeatability of the findings. As the research conducted should be valid and reliable. The validity of the research measures the data collected shows the phenomenon that an individual want to measure. Validity means the extent of the correctness of the results of research. There are two types of results from validity including external and internal validity. The internal validity can be defined as the analysis of the accuracy of the results attained while on the other hand, the external validity means to analyze whether the findings can be generalized or not.
We use generalize validity to investigate that; Are the results obtained from this research can be used to analyze the other organizations of the same type or not. The purpose of using validity was; on the basis of interviewed that prepared by the observer and researcher, and the development basis was on the needs and requirement of the researcher with the relation to the topic under discussion and it also analyzes precisely what the researcher aims to analyze. Reliability of the research is referring to the accuracy of measures used to check the relations of variables.
The interview was designed and developed on the basis of issues and the concern and main goal of the research were in the study and theories of the subject. So the analysis of the research showed that all the responses and results gathered from studies can be assumed as reliable.
Semi-structured interviews are made so that there could be the great analysis of the company employees as well as the managers or executive that what they IFRS 8 as implemented in the Saudi Listed Companies. There are various companies in Saudi Arabia that are focused on the principles of IFRS 8 so that there could be the benefit and so that there could be better management of the company operations. In order to analyze the executives and employees in the companies, semi-structured interviews were conducted so that there could be the analysis of the practices and understanding of the people about the IFRS 8.
Regarding the research method of the IFRS, 10 semi-structured interviews; 5 for the executives of the company as in this way, data from 25 executives of the companies were collected. However, 5 questions were made for the employees of the companies and 75 people or employees were selected in this way so that there could be the analysis of the practices that are considered by the companies in Saudi Arabia. Semi-structured interviews are given in Appendix A and Appendix B. For the research methodology semi-structured interviews are concerned so that there could be better analysis of the quantitative research method.
The interviews are collected from the employees and executives and it is known for the depth analysis that companies and people are considering the IFRS 8 as an appropriate practice model. However, because companies are getting the benefits are there are other political efforts in the IFRS 8; consequently, IFRS 8 is the process of change and through the application of IAS the companies in Saudi Arabia are getting the settlement as known or considered by evaluating the financial statements of the companies. Moreover, the benefit of the IFRS 8 is recognized by the companies as concerned to the interviews it is known that practices of the IFRS 8 are being imprinted effectively because companies are already getting the reimbursement of the IFRS 8.
From the interview questions with the managers regarding the question how IFRS 8 is an effective management approach, that there could be benefit related to the effective management approach as the managers can effectively notice the behavior of the employee because there can be better analysis of the employee in this way, through concerned to the reportable segments. Effective management approach can enable users because the company and the manager can effectively respond to the financial statements.
Regarding the question do you believe that IFRS 8 based is based on effective rules or principles, it is known that is some nature and financial goals in the IFRS 8, that are related to the different business activities, however, it is analyzed that people can be better engages in the economic environments and there are people rules as well as the proper organizational structure. Thus, it is known that effective rules or principles are followed under it.
Concerning the question how IFRS 8 can allocate resources and assess company performance, it is known that IFRS 8 operations can assess company performance and there could be the better allocation of the resources because there is proper management of the operating segments and the product are defined effectively. Thus, it is known that IFRS 8 can effectively access company and employee performances because there is an effective line and a geographical area, as well as the core principle, is followed in this way.
Regarding the question what can be some disclosures supports to IFRS 8, it is known that there is segmentation that has some of the disclosed information, however, in this way, there can be some disclosures supports to IFRS 8 and the segments get the effectiveness through the financial statements. There is hidden information that can be operated through the IFRS 8 Operating Segments.
Last question related to the interview questions with the managers concerning the question do you believe that IFRS 8 is helping managerial decisions to be usefulness, there are chief operating decision maker, who makes the decisions based on the hidden operation and information daily, it is analyzed that IFRS 8 is helping managerial decisions or they are making effective decision because they understand the market in the better way and can effectively make decisions regarding the resources that need to be allocated. It is analyzed that better decision can be made because managers agreed that they can make better decisions based on the IFRS 8 because a company can assess its performance.
For the interview questions with the employees, concerning the question how do you believe that IFRS 8 can add credibility to the audit functions, the employees have revealed that there are proper IRFS 8 operating segments managerial system in the companies and it also support the company audit performance, because company in this way, can better support the management as well as the performance or the supplies of the products and services. It is known that this system adds the added credibility in the audit functions because there is better analysis of the company operates in the geographical areas.
Concerning the question how do you believe that IFRS 8 is better approach than IAS14, the employees in the companies better focus on the reporting of financial information; as they told that IFRS 8 is better approach than IAS14 because IAS14 requires double segmentation and there also the source related to the risks; as the company not identified the major customers or competitors or there may be no better analysis of the company in the market. However, it is known that as compared with the IAS14; IFRS 8 is the better approach.
Regarding the question how do you believe that IFRS 8 support company business activity, It is known through the interviews with the employees that market and business benefits are there because the measurement of disclosed information or the segment information can be done in the better way? It is analyzed that all financial business activities are supported effectively because the better analysis is done and better decision-making process can be focused. However, it is known that IFRS 8 support company business activity and in this way, companies are earning better revenues on the market.
Concerning the question how IFRS 8 providing benefits to financial information to a company, it is analyzed that companies are getting better financial results as the companies are reviewing the financial information regularly and the companies are focused on the operating results because financial information as well the report financial is effectively concerned.
It is known that companies are getting better descriptive information as well as the financial information in this way, it is analyzed that there are benefits to financial information to the company and to the external customers. Regarding the question how do you believe that IFRS 8 is providing benefits to the employees, it is known from the employees that there are benefits after the jobs as there can be intersegment sales and companies could effectively combined revenue?
There are internal and external benefits to the company employees because the operating segments are effective and the revenue and expense are focused effectively regarding the relevant measure of the company profit or loss. Thus, IFRS 8 is providing benefits to the employees.
Use Of Software
For the analysis of the question interview questions with the managers, interview questions with the employees, there will be the analysis of the analysis of the results through the SPSS software. In order to analyze the quantitative research method and in order to focus on the effective and accurate results, the interviews are collected from the employees and executives considering the IFRS 8 as an appropriate practice model. The data will be collected through the SPSS software.
The significant results are there through using the software as the different tests and analysis are performed. Moreover, the financial statements of the companies are known and it is analyzed that there are benefits of the IFRS 8 are recognized because companies are better engages with the financial analysis and better understanding of economic environments is there, thus, IFRS 8 making the effective decision because they understand the market in the better way.
With the Globalizations, technology advancement, political and environmental change related to economics and the competition among the companies is also increasing and it is becoming more difficult for the organization to process the financial proceedings of the company. In result of these organizations has found the effective solution for the increasing competition, to focus more on finances to improve their performance and results.
To achieve better performance in organization growth of the knowledge of finances is unconditional in the present world of competition. Such type of growth is not only the cause of betterment neither in the technology nor in the contrast of production factors but also the effective change in the financial management.
So we can say that the psychoanalysis of the study under discussion clearly show that IFRS 8 is the operating segment that has a very strong positive relationship with the performance and output. That leans towards the enhancement of financial performance level. IFRS 8 lead financial performance towards effectiveness and improvement and through IFRS 8, operating segments and the performance turns into the advanced level.
The analysis shows that there is a strong relationship between the variable used in the study. Now by taking data from managers, it was analyzed that they want to conduct IFRS 8 and financial reporting are interested in being adopted. In this way the overall results of the results clearly show that the financial performance within organization get influenced by the IFRS 8 operating segments held for them by the organization. After IFRS 8in a feedback project that they are feeling much more satisfaction towards their finance standards of the company.
The IFRS 8 operating segments is one of the significant processes that can impact on the working performance of the organization and have an impact on the performance of the company as far as the finance is concern in some ways. According to the previous researches, the IFRS 8 operating segments has a direct impact on the progress of the finances in the organization. Both IFRS 8 operating segments and financial performance are interred linked to each other. Investment in the company can improve the service quality of the organization and can get more competitive advantages in the market.
A number of researchers criticize this concept of IFRS 8 operating segments implementation as they said that the process of adoption of the IFRS 8 operating segments is lengthy and through such kind of processes the organization can make more profits as they can improve efficiency of the financial system and competence of IFRS 8 operating segments in business. Therefore the important consideration in the business of the company is to understand the relationship between IFRS 8 operating segments and financial performances.
According to the current analysis, the performance of companies can be demonstrated as one of the important parts in the industry. The IFRS 8 operating segments without any type of competence may have not efficient output and bad manners in the organization that produces a bad impact on the financial system of the organization. The research confirmed about the positive impact of the IFRS 8 operating segments on the financial performance.
It is identified that there is significant positive relationship between the IFRS 8 operating segments independent variable and financial performance of the companies is the dependent variable. According to standards of the research, if the results of the research obtained after performing test analysis is smaller than the results obtained are considered to be s significant. The regression analysis and on performing test, the significance level obtained was 0.00 , so it can be said that the results obtained are significant and shows relationship between the dependent and independent variables.
For the current research, hypotheses were developed. Hypothesis includes null hypothesis and three alternative hypotheses and their alternative hypotheses. According to result and qualitative research data, it is identified that there is significant positive relationship between the IFRS 8 operating segments in financial development for companies in the Saudi Arabia the hypothesis regarding the negative relationship between the IFRS 8 operating segments in financial and development programs for reports in Saudi companies was rejected.
According to results and test analysis for the second hypotheses that is the IFRS 8 operating segments and development have an effect on the financial turnover it is identified that there is significant negative relationship between the IFRS 8 operating segments and development of finance turnover. This shows that with the help of IFRS 8 operating segments, the financial turnover rate in an association can be eliminated. The hypothesis that the IFRS 8 operating segments also have no effect on the financial turnover in the companies of the Saudi Arabia.
So we can say in this matter that the hypotheses that is there is a correlation in profitability of organization and IFRS 8 operating segments for an Saudi Arabia companies was tested and results shows that there is significant positive relationship between the profitability of an organization and the IFRS 8 operating segments of the companies. This shows that when employees with IFRS 8 operating segments help to increase the, knowledge of finance that ultimately helps the organization to increase the profits.
In previous researches authors identified that IFRS 8 operating segments helps to enhance the performance. However, there are different tools that organization can be used to implement the IFRS 8 operating segments like in IFRS 8 operating segments implementations and the increasing the financial performance of the company by implementing the IFRS 8 operating segments standards in the company. There are different ways that organization can use to implement IFRS 8 operating segments in the company in order to improve their overall and performance of the organization. IFRS 8 operating segments is also likely to help to increase the level of efficient and reduce the financial turnover in organization.
Assumptions About The Nature Of Social Science
As we know that that the nature of the social science is more likely to related with the physiology, sociology, political science and the economics. In the social science we are more likely to study the discipline and the behavior of the people who are likely to live in a particular society. On the other hand we are also likely to know about the behavior of the people in the certain way and the reason behind it. There are many of the studies that are likely to include in the social science like in the social science we are also likely to know about the different cultures and the impact of the culture on the behavior of the people.
There are also many of the theories about the nature of the social science as many of the people also thing that of it is the social that it cannot ne the science and there are also many of the laws have passed in the favor and against the terminology of the social science. The social sciences are also said to be an important part f the, mass communication and it is also the art of the course of the students that are likely o study the mass communication. The social science also very good to guide who to interact and communicate with the people in the society and
Assumptions About The Nature Of Society
The society is said to be the groups of the people that are likely to live together and they have to share the values, beliefs and the culture of the society. As in this paper we are likely to research about the companies of the Saudi Arabia, so the culture of the Saudi Arabia is likely to affect a lot in the business and the companies that are likely to operate in the Saudi Arabia society. All of the rules and the regulation of the company’s business that are likely to work in the Saudi Arabia are also likely to influence from the social norms of the Saudi society and the culture.
As far as the nature of the society in the Saudi Arabia is concern we can say that it is said to be a lawful society where there are the strict rules and the regulation implemented on the employees of the companies. The employees of the companies are also likely to follow all of the rules implemented by the company and there is also some sort of the dress code in the companies and the employees are also needed to follow the rules of the companies.
In the nutshell we can say that assumptions our analysis and our research leads to the management workings in the organization as well as it leads to the efficiency and accuracy of the method used to do the research about the scenario we are going to do. In other words some of the people were not be able to write the setup at the best level so that we can have the best workings in our surroundings so that we can have the best results out of the methodology we selected for our term to be done properly and efficiently as well. When people go through the proper planning’s of the methodology and acted upon them then it is said to be the most efficient way of doing something difficult as well as something unique and précised as a matter of fact to be taken seriously in order to get benefit from that.
- Alsuhaibani, A. (2012). The Expected Impact of IFRS Adoption on Saudi Arabia Based on Lessons from Other Countries: A Focus on the Telecommunication Business. ELSEVIER.
- Deloitte. (2016). Getting it right Adoption of IFRS in Saudi Arabia. A Middle East Point of View.
- Nichols, N. B., & at.al. (2013). The Impact of Segment Reporting Under the IFRS 8 and SFAS 131 Management Approach:A Research Review. Journal of International Financial Management & Accounting.